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AUDUSD: Standing Aside as Prices Consolidate

AUDUSD: Standing Aside as Prices Consolidate

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

AUDUSD is in consolidation mode between 1.0245 and 1.0452 after taking out falling trend line resistance set from late February. We do not see an actionable trade setup here for now and will wait for the pair to offer greater directional conviction to look for entry opportunities.

AUDUSD_Standing_Aside_as_Prices_Consolidate_body_Picture_5.png, AUDUSD: Standing Aside as Prices Consolidate

Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.